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The document discusses the costs associated with construction projects. It outlines the major cost categories of capital costs and operation/maintenance costs. Capital costs include expenses for land acquisition, planning, design, construction, equipment, and financing. Operation/maintenance costs include expenses for staffing, repairs, renovations, utilities, and taxes. Contingency funds are also typically included to cover unexpected costs. The magnitude of each cost component depends on the nature, size, and location of the specific project.
The document discusses the costs associated with construction projects. It outlines the major cost categories of capital costs and operation/maintenance costs. Capital costs include expenses for land acquisition, planning, design, construction, equipment, and financing. Operation/maintenance costs include expenses for staffing, repairs, renovations, utilities, and taxes. Contingency funds are also typically included to cover unexpected costs. The magnitude of each cost component depends on the nature, size, and location of the specific project.
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The document discusses the costs associated with construction projects. It outlines the major cost categories of capital costs and operation/maintenance costs. Capital costs include expenses for land acquisition, planning, design, construction, equipment, and financing. Operation/maintenance costs include expenses for staffing, repairs, renovations, utilities, and taxes. Contingency funds are also typically included to cover unexpected costs. The magnitude of each cost component depends on the nature, size, and location of the specific project.
Copyright:
Attribution Non-Commercial (BY-NC)
Verfügbare Formate
Als PPT, PDF, TXT herunterladen oder online auf Scribd lesen
School of Architecture, University of Engineering and Technology, Lahore Costs associated with Construction Facilities The costs of a constructed facility to the owner include both the initial capital cost and the subsequent operation and maintenance costs. Each of these major cost categories consists of a number of cost components. The capital cost for a construction project includes the expenses related to the initial establishment of the facility: · Land acquisition, including assembly, holding and improvement; · Planning and feasibility studies’ · Architectural and engineering design; · Construction, including materials, equipment and labor; · Field supervision of construction; · Construction financing; · Insurance and taxes during construction; · Owner's general office overhead; · Equipment and furnishings not included in construction; and · Inspection and testing. Costs associated with Construction Facilities (Cont…)
The operation and maintenance cost in subsequent
years over the project life cycle includes the following expenses:
· Land rent, if applicable;
· Operating staff; · Labor and material for maintenance and repairs; · Periodic renovations; · Insurance and taxes; · Financing costs; · Utilities; and · Owner's other expenses. (Site/Head Office Expenses) Costs associated with Construction Facilities (Cont…)
The magnitude of each of these cost components
depends on the nature, size and location of the project. The owner is interested in achieving the lowest possible overall project cost that is consistent with its investment objectives. It is important for design professionals and construction managers to realize that while the construction cost may be the single largest component of the capital cost, other cost components are not insignificant. For example, land acquisition costs are a major expenditure for building construction in high-density urban areas, and construction financing costs can reach the same order of magnitude as the construction cost in large projects such as the construction of nuclear power plants. Data required for Estimation
1. Plans, sections and other relevant details of the work.
2. Specifications indicating the exact nature and class of materials to be used. 3. The rates at which the different items of work are carried out. To enable an estimator to take out the quantities accurately, the drawings must themselves be clear, true to the fact and scale, complete, and fully dimensioned. The estimator has also to bear in mind certain principles of taking out quantities. Contingency
In most construction budgets, there is an allowance for
contingencies for unexpected costs occurring during construction. This contingency amount may be included within each cost item or be included in a single category of construction contingency. The amount of contingency is based on historical experience and the expected difficulty of a particular construction project. For example, one construction firm makes estimates of the expected cost in five different areas:
Design development changes,
Schedule adjustments, General administration changes (such as wage rates), Differing site conditions for those expected, and Third party requirements imposed during construction, such as new permits. Contingency (Cont…)
Contingency is normally itemized in total as a separate cost
component of the estimate. Contingency is normally itemized in total as a separate cost component of the estimate. Contingency may also be added up due to un predictable events, such as storms, floods, strikes, price changes, small design changes, errors in estimation, other unforeseen expenses 3-5% Contingency is added up in Detailed Estimates. THANK YOU
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